Freeze or Unfreeze an Account or Virtual Card
There are certain situations that may warrant a Bloc account or virtual card to be frozen.
- We suspect illegal/fraudulent activities from your account
- You want to revoke card/account access from a team member
- The sub-account is no longer in use.
We suspect illegal/fraudulent activities from your account
We have Compliance and Anti Money Laundering policies in line with the CBN regulations for holding a banking licence, and we run an internal system for spotting anomalies and suspicious activity on every account created on our infrastructure.
If any business accounts created on our infrastructure break these policies, we reserve the right to freeze them. A frozen account will no longer be able to perform any transaction as long as it remains frozen. However, their balance will still remain available to them.
We typically reach out to businesses whose accounts have been frozen to investigate and verify that all is well. If all is well, we then go ahead to unfreeze the account.
If we do not reach out to you after your business account has been frozen, please send us a message at [email protected].
Important to Note:
Freezing accounts is also a security measure put in place to protect your business. If we suspect that you are complicit, we will put your Bloc business account on hold until we complete our investigation.
This will inadvertently affect all of your transactions.
It is important for you to stay compliant with our Terms of Use while using Bloc.
You want to revoke card/account access from a team member
If you assigned a card or sub-account to a team member and you spot fraudulent activities happening on it, the first step to stopping transactions from happening on it is by revoking access to it.
You can do this by going to the dashboard by yourself to freeze the account/card and halt transactions from happening on it.
The sub-account is no longer in use
For sub-accounts no longer in use, you can easily close them by yourself on the dashboard.
To close a sub-account, navigate to Sub-Accounts page > Click on the "more" icon of the sub-account > Click on close account. And you're done!